In addition, Martin Rapaport, who founded a popular gauge of
diamond pricing, said in a recent interview that he was preparing
to release a “few” products this year that would be available to
retail investors. He declined to describe them.

In perhaps the most developed plan, the largest publicly traded
diamond company, Harry Winston, is working with a Swiss asset
manager to create a $250 million fund that is set to begin buying
half-carat to six-carat diamonds this year with money from
institutional investors like hedge funds and pensions. The fund
would own diamonds bought and sold in Harry Winston stores and
sell shares to private investors.

The story quotes Edahn Golan, the editor-in-chief of INDEX
Online, in saying "Diamond is the last uncommoditized commodity,
and so it's drawing in may organizations. I assume that by the
end of this year there will be a bunch of them out."